The government said today that NSO figures showed how the present administration had managed to narrow the deficit by more than €150 million.

The deficit between January and November reached €189 million, from €342 million between January and November 2012 under the former government.

The NSO figures also showed that in the three months of the electoral campaign, at the time of the former government,  the national debt rose by as much as the 20 following months.

The government further pointed out that this year, thanks to economic growth, income tax revenue had risen from €719 million under the former government, to €861 million this year, even though income tax rates were reduced twice. 

VAT revenue this year reached €593 million from €503 million under the former government, belying opposition claims that consumption was down.